Tata Steel shares rise 2% despite 92% fall in Q1 profit; here’s why
The share price of the steel major rebounded 2.5% to ₹118.40, after falling nearly 1% in opening trade on the BSE.
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Steel industry's operating profits to contract 45-50% in FY23: ICRA
Indian steel companies face a bumpy road ahead as the external environment becomes more challenging due to elevated inflation, energy prices and rising interest rates.
Steel cos post 75-90% decline in EBITDA
The EBITDA per tonne of steel companies declined primarily due to steep fall in steel prices
JSW cuts capex plan 25% due to global quotas, duties distortion
Waning demand of steel in global market forces JSW Steel to cut capex by 25% in current fiscal.
India's great opportunity to emerge as steel export hub
Tata Steel, JSW and SAIL ramp up steel production capacities, eyeing a slice of international market also.
Budget 2022: Govt mulls cut in steel import duty as relief to MSMEs
Experts, however, say that the government will need to do a balancing act as the move may hurt domestic manufacturers.
Fortune 500 India: “Steel prices may stay higher than in last 10 years”
Fortune India spoke to Tata Steel MD and CEO T.V. Narendran after the company announced a 661% jump in net profit in Q2 FY22.
‘Want to make Indian steel industry competitive’
At the annual Fortune India Next 500 summit, minister of steel Chaudhary Birender Singh says he wants India’s steel industry to be number one in terms of quality in global rankings.
JSW Steel, Tata Steel post strong profits in Q4
Higher steel prices and robust demand drove JSW Steel’s fourth quarter sales and profit, while a one-time gain pushed Tata Steel’s bottomline.
